Exhibit 11
CALCULATION OF PRIMARY EARNINGS PER SHARE
Three Months Ended Nine Months Ended
January 31, January 31,
-------------------------- ---------------------------
1994 1993 1994 1993
Net earnings (loss)
from continuing
operations........... $(17,934,000) $ 5,695,000 $(30,350,000) $(10,732,000)
============ ============ ============ ============
Net earnings (loss).... $ 12,556,000 $ 8,583,000 $ 6,183,000 $ (2,535,000)
============ ============ ============ ============
Average number of shares
outstanding - primary:
Average number of
common shares
outstanding......... 105,919,000 107,064,000 105,802,000 106,647,000
Dilutive effect of
stock options after
application of
treasury stock
method.............. 973,000 383,000 779,000 -
----------- ----------- ----------- -----------
Average number of
shares outstanding... 106,892,000 107,447,000 106,581,000 106,647,000
=========== =========== =========== ===========
Primary earnings per
share:
From continuing
operations......... ($.17) $.05 $(.28) $(.10)
==== ==== ===== =====
Net earnings (loss).. $.12 $.08 $.06 $(.02)
==== ==== ==== =====
CALCULATION OF FULLY DILUTED EARNINGS PER SHARE
Three Months Ended Nine Months Ended
January 31, January 31,
-------------------------- ---------------------------
1994 1993 1994 1993
Net earnings (loss)
from continuing
operations........... $(17,934,000) $ 5,695,000 $(30,350,000) $(10,732,000)
============ ============ ============ ============
Net earnings (loss).... $ 12,556,000 $ 8,583,000 $ 6,183,000 $ (2,535,000)
============ ============ ============ ============
Average number of shares
outstanding - fully
diluted:
Shares used in
calculating primary
earnings per share.. 106,892,000 107,447,000 106,581,000 106,647,000
Additional effect of
stock options after
application of
treasury stock
method.............. - - - -
----------- ----------- ----------- -----------
Average number of
shares outstanding... 106,892,000 107,447,000 106,581,000 106,647,000
=========== =========== =========== ===========
Fully diluted earnings
per share:
From continuing
operations......... ($.17) $.05 $(.28) $(.10)
==== ==== ===== =====
Net earnings (loss).. $.12 $.08 $.06 $(.02)
==== ==== ==== =====